RE: New York's Decisions Have Financial Consequences

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RE: New York's Decisions Have Financial Consequences

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bil.prag in LeoFinance • last year

i have no idea how that works in US but isn't the bank the one that says this thing you have is worth 10k and we will loan you 5k on that.

Here i could say that my property is worth 5 million but the bank would say "yah nah, that is like 50k." realistically they don't even ask they just pay you a visit to check and give their own opinion.

is he charged because the bank borrowed him to much money? because from what i seen they are talking about Tramp personally not about the company. So it is not a fine for the incorrect financial reports for the company?

last year in LeoFinance by bil.prag

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taskmaster4450le last year

That is exactly how it works. There is no victim in this case. The bank has to agree to the terms that is offered.

That is what O'Leary was saying. With real estate, one side says it is worth X and the other Y. Ultimately, the bank decides what it is willing to lend upon.

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bil.prag last year

so it makes sense that it didn't make sense :)

i can see how that could affect New York but it is probably a good thing that this was a Tramp Bad thing and will probably not happen again. question is are people ready to risk it.

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